Responding to investor demand for investment strategies seeking to produce dividend yields while aiming to provide downside protection, Northern Trust (Nasdaq: NTRS) announced today the launch of the Northern Multi-Manager Global Listed Infrastructure Fund (NMFIX).
“Infrastructure – including airports, ports, toll roads and similar assets – has unique and attractive characteristics as an investment,” said Chris Vella, Chief Investment Officer for Northern Trust Multi-Manager Investments. “We see this as a space that has the potential to provide relatively stable cash flows, attractive yields, inflation protection and downside protection. We also like that the companies this fund will invest in often have limited competition due to the high barriers of entry into the markets they serve.”
Northern’s Multi-Manager Global Listed Infrastructure Fund seeks total return through both income and capital appreciation. Under its investment strategy, at least 80 percent of assets will be invested in securities of infrastructure companies listed on a domestic or foreign exchange. Infrastructure firms include energy, transportation, communication and utility companies. This is a global fund, and normally the fund will invest at least 40 percent in infrastructure companies tied to foreign countries, including emerging markets and frontier markets.
The Fund’s total net operating expense ratio is 1.00 percent, and has a redemption fee of 2 percent on assets sold or exchanged within 30 days of purchase. The minimum investment is $2,500. The Fund takes a multi-manager approach, with assets allocated to multiple outside sub-advisers using distinctive investment styles. The Northern Trust Company of Connecticut (NTCC) will conduct manager research, selection, optimization and oversight. Investment sub-advisers are Brookfield Investment Management and Macquarie Capital Investment Management.Northern Trust is a pioneer in multi-manager solutions, having launched our first multi-manager program in 1979. As of June 30, 2012, Northern Trust managed over $35.7 billion assets in multi-manager programs, in addition to assets under advisement of $23.2 billion for institutional and personal clients. Northern Trust invests with more than 200 external managers worldwide, offering personal and institutional solutions that include retail mutual funds, alternative asset classes, emerging manager programs and total investment program management.